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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Bogus purchases - addition made on the basis of Maharastra VAT ...

Income Tax

April 9, 2016

Bogus purchases - addition made on the basis of Maharastra VAT authorities to the effect that assessee’s suppliers have issued bogus invoices without involving any actual delivery of goods deleted - AT

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  2. Addition made on the basis of declaration of the assessee during search action - bogus purchases - The said letter clearly indicates that the additional income declared...

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  6. Bogus purchases - In a case where sales are considered genuine, no addition, on account of bogus purchases, can be made - AT

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  8. Reopening of an assessment beyond 4 years - issue of bogus purchases - specific and concrete information available with the AO - Reassessment proceedings sustained -...

  9. Addition made on account of bogus purchases - there cannot be a direct nexus between purchases and sales - in favour of assessee. - AT

  10. Additions towards bogus purchases without raw material there cannot be any finished products. The assessee has filed stock details before the authorities which show that...

 

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